The Charleston Trust (Bloomsbury in Sussex) 2015 Trustees' Report & Accounts

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

TRUSTEES’ REPORT & ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

A MESSAGE FROM THE CHAIRMAN Charleston is a house of art and ideas. We aim to be as experimental and as engaging, as inter-disciplinary, radical and free-thinking as Charleston’s Bloomsbury milieu. We believe that Charleston is for everyone and this vision encompasses everything we do and everything we want to do.

We aim to create an exceptional visitor experience, reflected in our customer satisfaction figures. Our tours bring alive the values of Charleston’s Bloomsbury residents and our ‘free-at-thepoint-of-use’ learning and community engagement programmes inspire those who wouldn’t normally have been able to access Charleston. Whilst significant accessibility challenges exist, not least in that the upper floor of the museum is extremely challenging to access for visitors with mobility issues, we treat every visitor as a special guest and have made significant strides to improving our accessibility during 2015 – from the delivery of a new access road and car park, opened in the summer, taking traffic away from the House and Garden, improving accessibility and restoring our rural tranquillity to funding secured late in the year for a digital tour of the upper floor of the house and improved accessibility for our shop and café.

I am delighted to welcome new trustees Professor Michael Farthing, Vice Chancellor of Sussex University, Simon Martin,

Artistic Director and Co-Director of Pallant House Gallery, Anne Morrison, Chair of BAFTA and Tom Stuart-Smith, awardwinning garden designer who all joined Charleston in 2015. I would like to welcome Jon Snow, journalist and broadcaster and Pippa Harris, film and television producer who were appointed as trustees during the year to commence their terms in early 2016 and I am pleased to announce that David Pickard, Director of BBC Proms and former General Director of Glyndebourne will join Charleston as a trustee in June 2016. I will also take this opportunity to thank Gillian Wolfe CBE, who stood down in November after completing her terms as a trustee. I am also pleased to announce that Michael Farthing has been elected as Chairman, to replace me when my second term comes to an end on 17th June 2016.

I wish Michael and the trustees every success and thank our Friends, Donor Circle members, Staff, Volunteers and other supporters for their development of the Trust’s vital work.

Nigel Newton, Chairman of The Charleston Trust

A MESSAGE FROM THE CHIEF EXECUTIVE Looking back on 2015, it is clear that this has been the most momentous year in the Trust’s history since the completion of the original restoration of the house and its opening to the public.

This year saw the roll out of a rebranding, our public programmes actively engage new audiences who wouldn’t otherwise have visited Charleston, we restored the mosaics and ceramics in the garden, and we secured the return of Vanessa Bell’s ‘Still Life with Flowers’ from the United States, to hang in its old position, above Duncan Grant’s bed. As a result of our partnership with a TV production company, Life in Squares brought many new audiences to Charleston and a hugely successful crowd-funding campaign secured the restoration of our decorative interiors and funding for a new environmental control system. In addition the Trust acquired several small strategic pieces of land to secure our rural tranquillity.

I am particularly proud that we hosted our first ever Charleston-British Council International Writer in Residence in Barbara Jenkins from Trinidad and Tobago and launched the Charleston-EFG John Maynard Keynes Prize, awarded

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TRUSTEES’ REPORT & ACCOUNTS 2015

to Indian Nobel Economics Laureate and social thinker Professor Amartya Sen. A key element of being an engaging museum is creating vibrant programmes that live Charleston’s values and inspire new audiences. Our renowned festivals attest to this with speakers in 2015 including Leila Aboulela, Tash Aw, MyAnna Buring, Peter Carey, Shami Chakrabarti, Nadifa Mohammed, Wayne McGregor, Maggi Hambling, Ali Smith, Tom Stoppard, Vendela Vida and Jane Gardam, winner of the 2015 Charleston-University of Chichester Lifetime’s Excellence Award in Short Fiction.

It has been a particularly rewarding year and my thanks go out to the superb staff and volunteers who work so tirelessly to support Charleston’s mission and values.

Alistair Burtenshaw, Chief Executive of The Charleston Trust

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

CONTENTS 1 TRUSTEES’ REPORT 1.1 CHARITABLE OBJECTIVES AND MISSION STATEMENT 1.2 PUBLIC OPEN DAYS 1.3 PUBLIC PROGRAMMES AND LEARNING 1.4 HOUSE CONSERVATION 1.5 CHARLESTON CENTENARY PROJECT 1.6 THE CHARLESTON FESTIVAL 1.7 SMALL WONDER FESTIVAL 1.8 FRIENDS OF CHARLESTON 1.9 SHOP AND CAFÉ 1.10 FUNDRAISING 1.11 OTHER ACTIVITIES 1.12 SUPPORTERS

4 5 8 10 12 16 18 20 22 24 26 28

2 FINANCE, GOVERNANCE AND ADMINISTRATIVE DETAILS 2.1 2.2 2.3 2.4

LEGAL AND ADMINISTRATIVE INFORMATION STRUCTURE, GOVERNANCE AND MANAGEMENT FINANCIAL RESULTS STATEMENT OF TRUSTEES’ RESPONSIBILITIES

30 31 32 34

3 ANNUAL ACCOUNTS 2015 INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (SOFA) CONSOLIDATED AND CHARITY BALANCE SHEETS NOTES TO THE ACCOUNTS

35 36 37 38

Cover image: Clouds Fabric © Carlotta Luke The Charleston Trust Charleston Firle Lewes East Sussex BN8 6LL 01323 811 626 info@charleston.org.uk www.charleston.org.uk

The Charleston Trust (Bloomsbury in Sussex) is a non profit making company limited by guarantee Registered charity number: 1107313 Registered in England & Wales company number: 05212725 Registered office – as above

TRUSTEES’ REPORT & ACCOUNTS 2015

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THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1. TRUSTEES’ REPORT The Trustees of The Charleston Trust (Bloomsbury in Sussex), also referred to in the report and financial statements as ‘The Charleston Trust’, ‘the Trust’ and ‘the Charity’, are pleased to present their report and the financial statements for the year to 31 December 2015.

1.1 CHARITABLE OBJECTIVES AND MISSION STATEMENT As a registered charity created to manage and conserve Charleston for the benefit of the public, The Charleston Trust is dedicated to providing excellence in both interpretation and conservation. The Charity’s objectives are: • To acquire, protect and improve for the benefit of the general public the land and buildings known as Charleston; • To promote the maintenance and development of public knowledge, understanding and appreciation of the art, architecture and contents of Charleston and its historical, literary and artistic connections; • To encourage and promote appreciation and understanding of the arts.

These objectives are achieved through the provision of public open days and an annual programme of events and workshops, hosting two literary festivals and conservation of the House, the Collection and the Garden. In all of its activities the Trust endeavours to be open and accessible to all. When considering the charity’s objectives and planning activities for the year, the Trustees have had due regard to the Charity Commission’s general guidance on public benefit.

The Charity’s vision is “The historic embodiment of creative innovation” and its mission statement is “Charleston exists to please, inform and inspire the public about Charleston, Bloomsbury and the arts.”

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TRUSTEES’ REPORT & ACCOUNTS 2015

Charleston workshop at Uckfield Festival © Charleston

CHARLESTON EXISTS TO PLEASE, INFORM AND INSPIRE THE PUBLIC ABOUT CHARLESTON, BLOOMSBURY AND THE ARTS

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.2 PUBLIC OPEN DAYS OBJECTIVES FOR 2015

• To ensure all tours are available to book online • To increase the percentage of visitors opting to Gift Aid to 30% (2014: 22%) • To arrange an external audit of Charleston’s accessibility with a particular focus on wheelchair access • To offer an extended ‘Sisters’ tour examining the lives of Vanessa Bell and Virginia Woolf who stood at the centre of the Bloomsbury group • To offer a shorter 30 minute ‘Family tour’ specifically tailored for those with children and focussing on the art and children who lived at Charleston • To use social media more effectively to link Charleston to new and existing audiences year-round

ACTIVITIES

• All tours were made available to book online; 38% of individual visitors chose this option • 32% of visitors opted to pay the Gift Aid entry price • An accessibility audit was carried out in house and led to funding applications for improved visitor accessibility

• An increased focus on social media, including recruitment of a Digital Media Apprentice supported by Dv8 Sussex, improved Charleston’s online presence significantly • Publicity surrounding the BBC drama Life in Squares led to visitor figures being at their highest ever since Charleston opened to the public in 1986 • Charleston achieved an average TripAdvisor rating of 4.6 out of 5, was awarded a TripAdvisor Certificate of Excellence, won a Lewes District Business Award for ‘Best Visitor Attraction’ and gained a VisitEngland Hidden Gem accolade

FUTURE PLANS FOR 2016 • To put the provision of a new ticketing system out to tender with a view to implementing in 2016 or early 2017 • To maintain the percentage of visitors opting to pay the Gift Aid price at a minimum of 30% • To improve accessibility for visitors by installing new handrails and hearing loops and trialling signed tours with support from the Ernest Kleinwort Charitable Trust • To run an extended tour every other Friday during the open season outside school holidays and festivals • To recruit six new Guides, to be fully trained by May 2016

• An extended ‘Sisters’ tour was run on selected Fridays and also offered to group visitors

• To recruit and train 5 to 10 new volunteer stewards on a rolling programme throughout the season

• A shorter ‘Family Tour’ was trialled but was not particularly popular with the general public so in 2016 will be run for school groups only as part of the education programme

• To create and implement a visitor focussed marketing plan • To actively market group tours with the aim of increasing group visitors by 14%

A BEAUTIFUL TREASURE IN LOVELY COUNTRYSIDE… A WONDERFUL DAY OUT. THE GUIDED TOUR WAS EXCELLENT VISITOR, JULY 2015 TRUSTEES’ REPORT & ACCOUNTS 2015

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THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.2 PUBLIC OPEN DAYS (CONTINUED) Visitors 25,000

23,177 20,617

Number of visitors

20,000

2,029 18,588

21,680

2,198

2,410

20,979

23,800 2,500 21,300

19,270

15,000

10,000

5,000

Group visitors 0

Individual visitors 2014

2015 target

2015 actual

2016 target

VISITOR FEEDBACK FROM COMMENTS CARDS

4.8

97%

81%

Average rating for overall visit

of visitors rated their visit at least 4/5(satisfactory)

of visitors rated their visit 5/5 (very satisfactory)

6

2,306

4,196

155,641

No. of Facebook likes

No. of Twitter followers

No. of unique web visitors

TRUSTEES’ REPORT & ACCOUNTS 2015

Charleston Guides © Carlotta Luke

ONLINE PRESENCE

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.3 PUBLIC PROGRAMMES AND LEARNING OBJECTIVES FOR 2015

• To explore further partnership and support funding opportunities to encourage both new and existing audiences to engage with Charleston’s redevelopment • To become an Arts Award Supporter and utilise further training opportunities within the scheme • To explore opportunities to pilot a youth programme including a youth ambassador scheme • To recruit an evaluation consultant to devise a visitor evaluation plan • To develop non-profitable Education and Community strands of activity, if sufficient funding is secured • To review existing online and offline learning experiences • To identify harder-to-reach audiences and address how best to provide for their needs

ACTIVITIES

• Funding was secured from the Garfield Weston Foundation towards improvements to Charleston’s education spaces and the development of new Learning and Engagement programmes • The HLF Activity Plan schools project Adopt Charleston was linked to an existing Arts Award project funded by Artswork.

Members of staff attended Arts Awards training during the year which led to the linking of Learning objectives for an Adopt Charleston project with Uckfield Community Technical College to Bronze Arts Award criteria. This required pupils to complete four separate modules and culminated in an exhibition of the pupils’ work. The collaboration laid the foundation for future youth work • The Head of Public Programmes and Learning (PPL) attended an East Sussex Cultural Leaders meeting for Educators which highlighted the opportunity to engage with existing youth organisations and link with established schemes like Arts Award as an efficient and effective way of developing future youth programming at Charleston • The Education and Community strands were developed within the HLF Activity Plan (see 1.5 Charleston Centenary Project)

Public Programmes and Learning Intern at the Adopt Charleston 2015 Schools Exhibition © Callum Richards

• A new range of learning experiences was piloted through our Events & Workshops programming. More children’s programming, excursions to Cambridge and the East London studio of Cressida Bell, talks and performances of opera and Shakespeare were all introduced thus transforming a programme that struggled to break even financially, into a sustainable format. The review of online learning was postponed in order to address the more pressing issue of introducing a reliable and secure online booking system for events • Charleston’s work with marginalised audiences was largely addressed through the HLF Activity Plan

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TRUSTEES’ REPORT & ACCOUNTS 2015

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

FUTURE PLANS FOR 2016

• To maximise bookings for Events & Workshops, thus increasing income and reducing the number of events cancelled • To undertake focus group consultation with young people to inform future PPL plans and Audience Development targets • To write a Learning Strategy for 2016-2020 to provide a clear vision for Charleston’s PPL development • To support the research and creation of an Audience Development Strategy • To devise a new Schools Programme to pilot in 2017 • To recruit a team of volunteers to assist with the administration and delivery of PPL programming • To support the Centenary Project Design Team in researching and defining room requirements for the Creative Learning Studio, auditorium and other public spaces (as required) • To develop Charleston’s Community Engagement Programme through partnerships (e.g. Seaford Conchies); and by piloting art and literacy based projects as part of the HLF, Small Wonder and Garfield Weston funding agreements PUBLIC PROGRAMMES 2014

2015 target

2015 actual

2016 target

26

44

36

56

No of participants

552

667

971

1295

Average % occupancy*

77%

77%

71%

73%

No. What’s On Events

Painted Lampshades Workshop 2015 © Charleston

*Excludes events postponed or cancelled due to lack of interest.

WE HAD A WONDERFUL, INSTRUCTIVE AND VERY ATTENTIVE TUTOR [WITH A] GREAT FRIENDLY ATMOSPHERE RAG RUGS WORKSHOP ATTENDEE, APRIL 2015 TRUSTEES’ REPORT & ACCOUNTS 2015

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THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.4 HOUSE CONSERVATION OBJECTIVES FOR 2015

• To accept students from the University of Sussex’s Museum Studies MA • To plan and deliver an annual programme of preventative and remedial conservation work, including reinforcing works on the ceiling of Clive Bell’s study • To secure significant loans and select items from the reserve collection for display in the House • To provide loans to other institutions where proper standards are in place and loans make strategic sense for the audience

ACTIVITIES

• Discussions were held with the University of Sussex to develop a Memorandum of Understanding with regards to developing sustainable research relationships • With support from The Pilgrim Trust, the ceiling of Clive Bell’s Study was replaced and finished with lime plaster and the joists in John Maynard Keynes’ Bedroom were reinforced to correct weaknesses in the structure • Loans were made to Pallant House, Chichester for the Sickert in Dieppe exhibition

• To design and install a World War I and Bloomsbury timeline in the café spaces and make available to view online

• The tiled pond in the lawn of the walled garden was completely refurbished and facsimile tiles installed thanks to the support of the Chalk Cliff Trust. The piazza and Quentin Bell fountain were also restored with support from The Pebble Trust

• To design and display an exhibition inspired by the Life in Squares drama series

• The World War I timeline and exhibition inspired by Life in Squares were not produced due to time constraints

• To implement new interaction opportunities to engage audiences with particular sensory and mobility needs

• Funding for hearing loops and trialling signed tours was gratefully received in late 2015 from the Ernest Kleinwort Charitable Trust to be implemented in 2016

• To install new tiles (to be created by Vicki Walton) for the walled garden pond with support from the Chalk Cliff Trust

• To publish new web pages that tell the histories of the inhabitants of, and visitors to, Charleston focussing on items from the Collection and pages that mark anniversaries in the wider cultural context of Charleston and the Bloomsbury group

• Initial work commenced for the new web pages which will now be published in Spring 2016 • The final collaborative DPhil student between the University of Sussex and The Charleston Trust, supported by the Arts and Humanities Research Council, submitted her thesis and has been awarded her doctorate • Essential painted surfaces conservation work in the House commenced in November using funds raised from the ArtFund Art Happens crowdfunding campaign

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TRUSTEES’ REPORT & ACCOUNTS 2015

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

FUTURE PLANS FOR 2016

• To sign a Memorandum of Understanding with the University of Sussex to develop sustainable research relationships • To work with the University of Sussex to host a conference exploring 100 years of Charleston and modernism in Sussex • To work with other South East museums to plan an exhibition exploring Modernism in Sussex at 2 Temple Place, London in spring 2017 • To explore further collaborative DPhil opportunities with the University of Sussex • To complete the ArtFund Art Happens painted surfaces conservation work • To install a new environmental monitoring system also funded by the Art Happens campaign • To publish the new online interpretation and historical information

Art Fund conservation work in the Spare Room © Grace Towner

• To carry out the Charleston at 100 programme of celebratory events and projects to mark the Centenary of Vanessa Bell and Duncan Grant coming to Charleston in 1916 including publication of a Charleston in 100 objects online blog • To commence a project to catalogue Charleston’s photograph archive, made possible with support from the Chalk Cliff Trust • To make loans to France for the Sickert in Dieppe exhibition; to Italy for the Piero della Francesca Indagine su un Mito exhibition in Forlì; and to Victoria Art Gallery, Bath for the Bloomsbury Rooms exhibition • To work closely with the curators of the planned 2017 Vanessa Bell exhibition at Dulwich Picture Gallery

TRUSTEES’ REPORT & ACCOUNTS 2015

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THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.5 CHARLESTON CENTENARY PROJECT OBJECTIVES FOR 2015

• To plan a programme of celebratory events and projects to take place in 2016 to mark the Centenary of Vanessa Bell and Duncan Grant coming to Charleston in 1916

• To complete the new access road and car park, repair the existing access road and commence the new build element of the project

• To organise a promotional event at Clarence House with Charleston’s patron HRH The Duchess of Cornwall

• To ensure the architects complete RIBA Stage E (Detailed Design)

• To put the ‘Enabling’ and ‘Phase One’ works out to tender to the shortlisted building contractors

• To raise £500,000 through a combination of fundraising events, donations from individuals and grants from trusts and foundations

• To continue the curatorial and public programme internship schemes • To publish four more research papers delivered by the curatorial interns and published online • To increase Charleston’s online presence including the creation of an interactive virtual sketchbook, collection highlights and to continue The Charleston Attic blog • To commence the HLF Activity Plan of events, workshops, walks, talks and schools programme to be led by the Head of Public Programmes and Learning and delivered by the public programme interns • To approach possible partner galleries and museums to host exhibitions for a potential ‘Charleston on Tour’ programme of events • To develop themes for possible future exhibitions under the guidance of the Exhibitions Committee

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TRUSTEES’ REPORT & ACCOUNTS 2015

Alistair Burtenshaw, Lord Gage, Nigel Newton and Virgina Nicholson open the new car park © Axel Hesslenberg

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

ACTIVITIES

• RIBA Stage E (Detailed Design) was completed in June 2015 • The new access road and car park was built and used over the summer by visitors and May Festival attendees. The car park and road were officially opened in September 2015 by Lord Gage. Preparation for repairs to the existing road began with work to commence in 2016 • The tendering process for building contractors began at the end of 2015 with interviews to be held at the beginning of 2016 • Another four curatorial interns were employed during 2015 to work on cataloguing, researching and digitising the Angelica Garnett Gift. The second public programme intern started in September 2015 • One of the curatorial interns presented their research paper at the National Portrait Gallery conference in November 2015 and it is available online. It was agreed that all the research papers will be published online after the end of the project • The Charleston Attic blog is regularly produced by each set of interns and has increased its readership not only in the UK but internationally • The HLF Activity Plan’s public engagement activities began in 2015 and included the Adopt Charleston schools project with Uckfield Community Technology College (UCTC), Ringmer Primary School and Firle Primary School; the creation of a local walking map; and community projects with partners East Sussex Young Carers, Sussex Wildlife Trust and the Uckfield Festival. Several volunteer schemes were also run including a Willow Sculpture project and free guided nature walks to entice new users to Charleston

• Funding was secured from the Garfield Weston Foundation towards the Granary build and to further pilot and develop the education and community engagement strands in 2016 and 2017 • The Head of Curatorial Services commenced research into procedures from similar organisations on exhibition planning and budgeting and initial discussions took place with potential exhibition collaborators • A reception for around seventy key supporters was held at Clarence House hosted by Charleston’s Patron, HRH The Duchess of Cornwall, in January 2015 • Over £800,000 was pledged in 2015 from a number of private donors and Trusts. An appeal for funds specifically for the landscaping around the car park and new road was held during the Charleston May Festival and raised over £6,000 • The £7m fundraising target was increased to £8.5 million following an extensive cost review exercise led by Cragg Management. The increase in forecast costs and subsequent target mainly arose from a revised estimate of professional fees, repairs to the existing access road which had not previously been allowed for and a substantial increase in the forecast costs for sheet piling. The scope of the refurbishment of the office building was reduced which made a saving against these increased costs • A new Business Plan was commissioned to replace the 2010 plan which was submitted as part of the HLF application • Culture Shift were appointed as evaluation consultants for the HLF Activity programme

TRUSTEES’ REPORT & ACCOUNTS 2015

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THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.5 CHARLESTON CENTENARY PROJECT (CONTINUED) FUTURE PLANS FOR 2016

• To appoint contractors to work on the building elements of the Centenary Project • To start Phase 2 of the building works which include the restoration and refurbishment of the Grade II listed barns, the installation of the Exhibition Galleries and the Collections Store • To complete the majority of the landscaping around the new car park and access road areas • To start developing the first programme of exhibitions to be held in the newly built Wolfson Gallery in late 2017 under the guidance of the relevant committees • To work with the Public Programmes and Learning and Retail teams to develop a holistic programme of exhibitions, events and public programming for the new spaces • To establish a permanent Schools’ Programme alongside additional education research and planning following the success of the Adopt Charleston scheme

• To work with Culture Shift on providing a clear and useful framework for evaluating the HLF Activity Programme • To fundraise £1 million through a number of Trusts and Foundations applications, approaches to individuals and fundraising events • To finalise the revised Centenary Project Business Plan and start to put in place recommendations and plans ahead of completion of the project.

EVERY WEEK THE ANGELICA GARNETT GIFT SURPRISED US WITH NEW INSIGHTS INTO THE WORKING PRACTICES OF VANESSA BELL AND DUNCAN GRANT. THIS INTERNSHIP WITH CHARLESTON HAS HELPED TO PREPARE US FOR OUR NEXT ROLES BY PROVIDING US WITH THE KNOWLEDGE BASE AND PRACTICAL SKILLS TO PROGRESS IN THE ARTS REBECCA BIRRELL AND ZOE WOLSTENHOLME, CURATORIAL INTERNS, DECEMBER 2015.

REBECCA IS STARTING HER PHD ON MODERNISM AND HESITATION AT THE UNIVERSITY OF OXFORD. ZOE WILL BE WORKING AT THE SHIRLEY SHERWOOD GALLERY OF BOTANICAL ART AT KEW GARDENS.

Willow Sculpture project © Grace Towner

Curatorial Intern © Axel Hesslenberg

• To run the projects listed for Year 2 in the HLF Activity programme which include a Bookswap project as part of the Small Wonder Festival, painted furniture project, knitting workshop, bee keeping workshop and cycle talk

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TRUSTEES’ REPORT & ACCOUNTS 2015

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.6 THE CHARLESTON FESTIVAL OBJECTIVES FOR 2015

• To produce an outstanding literary festival with high profile speakers • To screen the Alan Bennett event ‘Talking Heads’ at the Picture House Uckfield as a Festival launch event • To produce a plan to extend the Festival brand into core development markets • To explore opportunities for delivery of a Charleston winter festival in either the United States or France • To pilot the use of the Barn as an alternative to the tea tent in the Orchard • To secure high quality sponsorship for the 2015 Festival.

ACTIVITIES

• The concept of Festival merchandising was explored but the cost of commissioning items proved prohibitive • The possibility of establishing a Charleston Festival in the United States was explored • The barn and barnyard was used as the main catering area for the Festival. Placing all catering services in one location created a pleasant festival atmosphere. However, it was agreed that the condition of the barn was not adequate for food service operations until the barn refurbishment takes place • There was an increased number of sponsors for the Festival and the Fundraising Manager introduced an Associate Partners scheme which attracted support from EFG Private Bank, Hurstpierpoint College, University of Sussex, and Rathfinny Wine Estate.

• The 2015 Charleston Festival ran from the 15th to 25th May featuring 37 talks by speakers including Tom Stoppard, Monty Don, Antonia Fraser, Peter Carey, David Nicholls, Shami Chakrabarti, Ali Smith and Michael Frayn. Amartya Sen was the inaugural recipient of the Charleston-EFG John Maynard Keynes Prize and delivered a talk entitled ‘The Economic Consequences of Austerity’ • Two screenings of ‘Talking Heads’, Alan Bennett’s appearance at the Charleston Festival 2014, took place at the Uckfield Picture House attracting 140 participants. A further screening attracting 28 attendees took place at the 2015 Festival as a substitute for an event that was cancelled owing to author illness

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TRUSTEES’ REPORT & ACCOUNTS 2015

Charleston Festival 2015 © Axel Hesslenberg

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

FUTURE PLANS FOR 2016

• To produce an outstanding literary festival with high profile speakers • To source a larger marquee in order to increase audience numbers and improve visitor comfort • To introduce an online booking system for priority booking in 2016

• To improve the catering offer • To use the Festival to promote Charleston’s other activities (e.g. Small Wonder, What’s On, Centenary Project, House tours, etc.)

• To introduce improved evaluation methods for the Festival • To update the Festival’s branding and website to maximise impact

• To increase the number of festival events to maximise income potential

OCCUPANCY %

• To streamline staff costs through the use of permanent members of Charleston staff to work key festival jobs and extend the use of volunteers where possible

2014

• To introduce a new ‘souvenir programme’

2015 ACTUAL

2016 TARGET

0

10

20

30

40

50

60

70

80

90 100

NUMBER OF ATTENDEES

2014

2015 ACTUAL Tom Stoppard at the Charleston Festival © Axel Hesslenberg 2016 TARGET

0

3,000

6,000

9,000

12,000

15,000

THE ARRAY OF TALENT AT THE 2015 FESTIVAL WAS AMAZING WITH MORE EVENTS THAN EVER AND LARGER AUDIENCES. THERE WERE SO MANY MEMORABLE SESSIONS, BUT A FEW STAND OUT: JEREMY HUTCHINSON, JUST AFTER HIS 100TH BIRTHDAY, DEPLORING THE DOWNGRADING OF BRITISH ADVOCACY WITH HELENA KENNEDY; MAGGIE HAMBLING VERY RELUCTANTLY DISCARDING HER CIGGIE AT THE ENTRANCE TO THE MARQUEE; TOM STOPPARD TALKING ABOUT THE DISCOVERY OF HIS EUROPEAN ORIGINS TO RICHARD EYRE; AND AMARTYA SEN, NOBEL LAUREATE, ACCEPTING THE FIRST KEYNES PRIZE. DIANA REICH, ARTISTIC DIRECTOR, CHARLESTON FESTIVALS TRUSTEES’ REPORT & ACCOUNTS 2015

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THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.7 SMALL WONDER FESTIVAL OBJECTIVES FOR 2015

• To produce a high quality short story festival with innovative national and international writers • To announce the winner of the third Charleston-Chichester Award for Lifetime’s Excellence in Short Fiction • To submit a funding application to Arts Council England for support of the 2016-2018 Small Wonder festivals • To secure high quality sponsorship for the 2015 Small Wonder festival.

ACTIVITIES

• The Small Wonder Short Story Festival 2015 ran from the 23rd to 27th September and featured 15 events with speakers including Jane Gardam, David Constantine, Tash Aw, Sarah Churchill, Marina Warner and James Naughtie. 15 people attended the Creative Writing Workshop led by Kirsty Gunn

Storytelling at the Small Wonder festival © Axel Hesslenberg

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TRUSTEES’ REPORT & ACCOUNTS 2015

and funded by the Booker Prize Foundation. Barbara Jenkins was the first Small Wonder International Writer in Residence supported by the British Council. BBC Radio 4 Bookclub was recorded at Small Wonder on Friday 25 September and aired on 4 October. BBC Arts Online recorded three events: ‘BBC National Short Story Award’, ‘Tales of the Unexpected’ and ‘Raconteurs and Yarn Spinners: Long Live the Irish Short Story’ • Jane Gardam was the recipient of the Charleston-Chichester Award for a Lifetime’s Excellence in Short Fiction • An application was submitted to Arts Council England to secure funding support for Small Wonder in 2016 and 2017 which included an audience development plan, community engagement activities and the introduction of a new digital strategy. The application was successful • In addition to sponsorship of the main events, the Fundraising Manager sourced supporters for the ‘Outsider’ programme, the hospitality area and the public catering area.

Barbara Jenkins © Axel Hesslenberg

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

FUTURE PLANS FOR 2016

OCCUPANCY %

• To produce a high quality short story festival with innovative national and international writers

2014

• To source an alternative venue for Small Wonder 2016 whilst the barns are redeveloped

2015 ACTUAL

• To cease the ‘Outsider’ programme of events and replace with an extended series of workshops and an outreach projects • To deliver an enhanced community outreach programme which includes a literacy project in collaboration with City Reads

2016 TARGET

0

10

20

• To increase the number of marginalised audiences attending Small Wonder as part of Charleston’s audience development efforts

40

50

60

70

80

90 100

NUMBER OF ATTENDEES

• To introduce a new digital strategy to increase our partnership working and maximise reach

2014

• To increase the number of creative writing opportunities for aspiring writers

2015 ACTUAL

• To support the work of the International Writer in Residence (funding dependent) • To secure funding for the Lifetime’s Excellence in Short Fiction Award 2016 to 2018

30

2016 TARGET

0

500

1,000

1,500

2,000

2,500

3,000

• To explore alternative ticketing systems • To improve the future sustainability of Small Wonder, ensuring a wider range of funding partners • To secure high quality sponsorship for the 2015 Small Wonder festival.

I LOVE THIS FESTIVAL; IT’S ONE OF THE HIGHLIGHTS OF MY YEAR - ALWAYS SO STIMULATING SMALL WONDER ATTENDEE, SEPTEMBER 2015 TRUSTEES’ REPORT & ACCOUNTS 2015

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THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.8 FRIENDS OF CHARLESTON OBJECTIVES FOR 2015

• To vigorously promote Friends’ membership across all areas of activity and as a result increase numbers by 49% • To review the benefits offered to Friends and reinvigorate the programme of exclusive Friends’ events • To produce three high quality expanded editions of Canvas magazine • To introduce reduced subscription fees for those paying by Direct Debit to encourage take-up • To increase the number of Friends competing a Gift Aid declaration by allowing them to do so online.

ACTIVITIES

• Promotion of the Friends’ scheme was extended across the organisation although not as vigorously as planned due to time and resources constraints. Numbers increased by 18% • The scheme had a greater online presence in 2015.

Memberships could be purchased and renewed online and members could manage their subscription using a trial ticketing system developed by Kaizen • Two exclusive Friends’ events were held in 2015: a trip to Long Barn and an end of season meeting • In August, David Herbert generously invited Life Friends to afternoon tea and a tour of his collection

• Three high quality expanded editions of Canvas magazine were produced including a newly branded Autumn edition • Reduced rates for subscription by direct debit were successfully introduced • Online Gift Aid declarations were offered via the Charleston website and through Kaizen.

FUTURE PLANS FOR 2016

• To organise and deliver three successful Friends’ events and one Life Friends’ event • To find an online membership subscription solution that streamlines processing and interacts and communicates with other organisational systems such as the Trust’s database • To increase standard subscription rates by £3 which will be the first increase since 2011 • To increase the number of Friends by 25% through an invigorated Friends’ programme • To promote the Life Friends membership scheme and convert existing Friends to Life Friends • To carry out an internal Gift Aid audit of current Friends’ subscriptions • To ensure all member information in the Charleston database is up to date.

FRIENDS 2000 1,635

1,094

1,301

219

200 1,199 180 137

155 1,104

882

127

Honorary Friends

748

Life Friends*

500

Friends annual subscribers 0

20

2014

2015 target

2015 actual

TRUSTEES’ REPORT & ACCOUNTS 2015

2016 target

* Joint subscriptions and family subscriptions are included in the figures above as one subscription.

Duncan Grant’s Studio © Carlotta Luke

Number of friends

134

1000

1,459

200

1500

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.9 SHOP AND CAFÉ OBJECTIVES FOR 2015

• To increase the percentage of on-site visitors who also make a purchase in the shop and café • To extend the scope of gift vouchers to allow use against our Workshops and Events programme and visitor tickets as well as in the shop • To implement a core range of four specially designed new Charleston-branded stock items • To increase the range of artists’ materials available in the shop • To continue to develop relationships with designers and artists for commissioned items inspired by Charleston • To revitalise the online shop and make more products available for purchase online • To sell a selection of specially blended teas created by Postcard Teas in the café and make available for purchase in the shop • To recruit a Café Supervisor and strong team of assistants to manage day-to-day café operations • To re-open the shop and café on 25th March 2015 at the same time as the House and Garden. In the closed season, to keep the shop open at weekends and only open the café for special events.

ACTIVITIES

• The percentage of on-site visitors making a purchase remained consistent at 42% (2014 recalculated: 42%) • Gift vouchers covering our Workshop and Events programme and visitor tickets were produced and made available online

22

TRUSTEES’ REPORT & ACCOUNTS 2015

• Cressida Bell was commissioned to produce an exclusive design to be used for items to be stocked in 2016 • Paintbrushes and sketchpads were stocked and successfully sold in the shop • Vicky Walton produced a new range of ceramics which sold particularly well • A brand new online shop was launched in November with more products available online. Online sales were not as high as anticipated so the online shop will continue to be a focus in 2016 • Postcard Teas created some special blends to be sold in the café and shop but due to personal circumstances of the supplier the development was deferred • The café had a very successful year making nearly £17,000 profit, a great improvement on a small loss in 2014 • A significant increase in site visitors was well managed and an average internal customer service rating of 4 out of 5 was maintained • A new Café Supervisor was recruited but left in August and a replacement was not found so the Catering and Hospitality Manager temporarily covered the role. A strong team of assistants were recruited, some of whom will return in 2016 • The Food Hygiene Rating remained at 5 following an inspection in the summer • New local produce was sourced and introduced for the café • The shop and café opened on 25th March 2015 at the same time as the House and Garden. The shop was open at weekends in the closed winter season and the café was only open for two pre-arranged events.

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

FUTURE PLANS FOR 2016

• To stock a core range of Cressida Bell Charleston-exclusive items • To arrange research visits to artist suppliers so shop staff can increase their knowledge of the items stocked in the shop • To introduce a range of painted furniture and mosaic tables • To develop the online shop further by adding more products and ensuring it is user friendly and enticing • To introduce a limited range of exclusive items designed especially for Charleston to help fund the Centenary project • To ensure the Charleston shop is marketed all year round in Charleston’s print and publications • To continue to progress the introduction of Postcard Teas to the café and shop • To recruit a Café Supervisor and a strong team of assistants for the 2016 open season • To maintain a 5 star Food Hygiene rating

Jo in the Shop © Carlotta Luke

• To continue to develop seasonal menus using local produce wherever possible

£8.73

£20.76

42%

Average shop spend per site visitor

Spend on average by each shop customer

of site visitors made a separate purchase in the shop (conversion rate)

*The above figures are for in-season only and assume all shop purchases are made by visitors to the House and/or Garden

TRUSTEES’ REPORT & ACCOUNTS 2015

23

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.10 FUNDRAISING OBJECTIVES FOR 2015

• To build a campaign to encourage legacy donations • To continue to seek funded internships and apprentice schemes to assist in various functions across the charity • To introduce an Associate Partner sponsorship package to enable organisations to support Charleston throughout the year • To launch a crowdfunding campaign to raise money for conservation of painted surfaces in the House • To increase the number of paid-for members of The Omega Group by 8%

ACTIVITIES

• The legacy campaign was deferred to 2016 due to time constraints • See Section 1.11 for details of the funded internships and apprentice schemes in 2015 • Introduced an Associate Partner sponsorship package enabling organisations including EFG, Rathfinny, Hurstpierpoint College and the University of Sussex to support Charleston throughout the year • Ran a highly successful crowdfunding campaign with ArtFund Art Happens to raise money for the restoration and conservation of painted surfaces in the House. £32,519 was raised which exceeded our original £25,000 target by 30%

• Funding for essential conservation and repairs to the House was granted by a number of trusts and foundations including The Alan Evans Memorial Trust, the Bruce Wake Charitable Trust, The Bryan Guinness Charitable Trust, The Ernest Kleinwort Charitable Trust, The Pebble Trust and the Royal Oak Foundation • Unrestricted grants were received from The Cuthbert Horn Trust and the JHF Green Trust • The South Downs National Park Authority provided funding for sustainable transport initiatives such as a cycling leaflet and a free bus service for Small Wonder • Successfully applied to Arts Council England’s Grants for the Arts scheme, securing the full amount requested of £85,000 to support Small Wonder in 2016 and 2017 • Funding was secured for an external database and systems review which commenced in 2015 to be finished in 2016

FUTURE PLANS FOR 2016

• To build a campaign to encourage legacy donations including the launch of a new legacy brochure in Autumn 2016 • To continue to seek funded internships and apprentice schemes to assist departments across the organisation

80

• To secure high quality Associate Partner, Charleston Festival and Small Wonder sponsorship

70

• To continue to raise funds for Charleston’s core costs

60 50 40

10 10 39

10 42

51 10 36

30 20

Honorary Omega members Omega Subscribers

10 0

• To continue to secure in kind funding for Charleston and its activities.

2014

2015 target

2015 actual

TRUSTEES’ REPORT & ACCOUNTS 2015

2016 target

* Joint subscriptions are included in the figures above as one subscription.

Art Fund conservation work in the Library © Grace Towner

Number of Omega members

• Unrestricted legacies totalled £93,750

• To grow paid-for membership of the Omega group by 42% (15 members)

THE OMEGA GROUP

24

• Paid-for members of The Omega Group unfortunately decreased by 8% (3 members) despite a varied schedule of events; increasing Omega members will be a key focus for the Trust in 2016

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.11 OTHER ACTIVITIES OBJECTIVES FOR 2015

ACTIVITIES

• To agree and implement a new visual identity

• The marketing agency Someone was appointed to create Charleston’s new style and visual identity, which was approved

by Trustees in July 2015 and subsequently rolled out across the organisation

• To organise an audit and review of the current brand to confirm brand values for internal and external guidance • To evaluate reciprocal marketing initiatives and identify strategic brand development opportunities with partners including the South Downs National Park Authority (SDNPA) • To secure an improved digital communications infrastructure • To ensure the website is mobile optimised to account for moving trends in how online content is accessed • To employ four interns across the organisation to be funded by the University of Sussex • To employ a Digital Media Apprentice to be funded by a Government AGE Grant and Arts Council England’s Creative Employment Scheme

• An audit and review of the current brand was undertaken in March partially funded by East Sussex County Council

• Reciprocal marketing activity was developed in 2015. Closer ties were formed with organisations involved in the Coastal Culture Trail which will be built on in 2016. The SDNPA funded various sustainable transport initiatives.

• A new marketing agreement was reached with the local magazine Viva Lewes involving advertising and editorials throughout the year • Email marketing had a more consistent approach and was evaluated on its success after each campaign. Social Media planning was more structured for major events and campaigns, including contractual partner scheduling.

• Initial research and feedback was sought in advance of redeveloping the website, including mobile optimisation, to take place in 2016 • Charleston received funding for two University of Sussex graduate internships. They worked for ten weeks in the Centenary Fundraising and Festival departments. Funding was also received for a University of Sussex First Generation internship scheme which is targeted at second year undergraduates who are from low income families or are the first in their family to go to University.

• A DV8 supported Digital Media Apprentice was recruited in September 2015 partially funded by a Government AGE grant and Arts Council England’s Creative Employment Scheme.

Clive Bell’s Bedroom © Carlotta Luke

26

TRUSTEES’ REPORT & ACCOUNTS 2015

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

FUTURE PLANS FOR 2016

• To develop and implement a new website that delivers a mobile optimised experience, streamlined navigation, quicker destinations, variable content (including video and social) and an uplift in ecommerce • To develop and implement a PR strategy for the Charleston at 100 project • To develop and implement a PR & Communications strategy for the Centenary Capital Project • To recruit new volunteers to assist in all areas of our activity and to ensure that they receive proper induction and training.

• To ensure that the Forward Plan and Priorities papers are revised together in Autumn 2016 to enable the organisation to develop plans for 2017 and to lay the ground work for a Forward Plan 2018-2022 • Recruit at least two new trustees whose skills and experience include Business and Finance and Museum Learning/Education • To review the staffing structure in preparation for completion of the Centenary Project • To investigate work placements, internships and apprenticeship opportunities that can be offered in partnership with other organisations.

Charleston Festival © Axel Hesslenberg

117

4,287

individuals volunteered their time to Charleston

hours were donated by the volunteers

THE TRUST WOULD LIKE TO THANK THE VITAL TEAM OF VOLUNTEERS FOR THEIR HARD WORK AND DEDICATION DURING THE YEAR. THE TIME AND EXPERTISE THAT VOLUNTEERS BRING TO CHARLESTON ARE INVALUABLE TRUSTEES’ REPORT & ACCOUNTS 2015

27

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

1.12 SUPPORTERS

Our Patron, HRH The Duchess of Cornwall The 1916 Donor Circle The Omega Group Donor Circle Friends of Charleston

CENTENARY PROJECT FUNDERS

Arts Council England The Band Trust The British Library Trust The Foyle Foundation Garfield Weston Foundation Gurney Charitable Trust Heritage Lottery Fund The Paul Mellon Centre for Studies in British Art The Ian Askew Charitable Trust The Maximillian Trust The Michael Marks Charitable Trust The Sackler Trust The Spencer Wills Trust Mark & Anne Sebba Timothy Hely-Hutchinson William & Virginia Nicholson Peggy Post Richard Emslie Georgina Aisbitt Tobias Aisbitt Catherine & Ray Goode Philippa Harris Consuelo & Anthony Brooke Mr and Mrs Brotherton-Ratcliffe Glen & Phyllida Earle Hannah Rothschild David & Sarah Kowitz The Charleston Trust would also like to thank everyone who supported the Landscape Appeal, a number of other generous individuals and those who wish to remain anonymous.

CORPORATE SUPPORTERS Ardingly College BBC Radio 4 BBC Short Story Award 2014 Burgess Hill School for Girls Caffyns Land Rover The Caine Prize for African Writing Charlotte Street Hotel City Books Hove EFG Private Bank Limited Gorringes Harvey & Son 28

TRUSTEES’ REPORT & ACCOUNTS 2015

Hurstpierpoint College Knill James Lancing College Mayer Brown International LLP Mayfield School MCR Media Pelham House The Picture House Uckfield Rathfinny Wine Estate Sotheby’s Sticky Fingers Sussex Country Gardener University of Chichester University of Sussex Word Theatre

TRUSTS & FOUNDATIONS

The Alan Evans Memorial Trust ArtFund Arts Council England The Booker Prize Foundation British Council Bruce Wake Charitable Trust The Bryan Guinness Charitable Trust CCS Creative Employment Programme The Cuthbert Horn Trust East Sussex County Council Ernest Kleinwort Charitable Trust JHF Green Trust The Old Possum’s Practical Trust The Ondaatje Foundation The Pebble Trust The Pilgrim Trust The Royal Oak Foundation SEWS Museum Development Programme South Downs National Park Authority We are extremely grateful to all the individuals who support Charleston, including but not limited to the following: Estate of Vanessa Wright John Drewitt Deborah Gage Jane Miles Nigel and Joanna Newton Claire Singers Sir Hugh and Lady Catherine Stevenson Prudence and Kevan Watts Nira Wright The Charleston Trust would also like to thank everyone who supported the Annual Fund, the ArtFund Art Happens campaign, a number of other generous individuals and those who wish to remain anonymous.

Detail in the Hallway © Carlotta Luke

The Charleston Trust is grateful to the following for their generous support throughout 2015:

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

2 FINANCE, GOVERNANCE AND ADMINISTRATIVE DETAILS 2.1 LEGAL AND ADMINISTRATIVE INFORMATION CHARITY DETAILS TRUSTEES/DIRECTORS Nigel Newton (Chairman) Virginia Nicholson (Deputy Chairman) Venetia Abergavenny Dinah Casson Michael Farthing (appointed 7 March 2015) Pippa Harris (appointed 4 January 2016) Mark Harwood (retired 18 February 2016) Simon Martin (appointed 1 June 2015) Anne Morrison (appointed 7 March 2015) Hilary Newiss (retired 31 January 2015) David Pickard (appointed 17 June 2016) Charles Saumarez Smith (retired 31 May 2015) Jon Snow (appointed 1 February 2016) Thomas Stuart-Smith (appointed 7 March 2015) Gillian Wolfe (retired 20 November 2015) COMPANY SECRETARY Virginia Nicholson (retired 20 November 2015) Sarah Higson (appointed 20 November 2015) PRESIDENT Anne Olivier Bell PATRON HRH The Duchess of Cornwall CHIEF EXECUTIVE Alistair Burtenshaw REGISTERED OFFICE & PRINCIPAL ADDRESS Charleston Firle Lewes East Sussex BN8 6LL REGISTERED CHARITY NUMBER 1107313 REGISTERED COMPANY NUMBER 05212725

COMMITTEE MEMBERS

Business & Finance Committee: Mark Harwood (Chair), Hugh Jones (joined September 2015), Hilary Newiss (retired January 2015), Anne Morrison (joined March 2015) Building Committee: (Charleston Centenary Project): Dinah Casson (Chair), Nick Cragg (Project Manager), Michael Farthing (joined March 2015), Nigel Newton, Virginia Nicholson, Jonathan Prichard, Charles Saumarez Smith (retired February 2015) Charleston Centenary Project Appeal Committee: (Charleston Centenary Project): Venetia Abergavenny, Charles Anson, Deborah Bedford (joined September 2015), Pippa Harris, Alison McLean, Gaynor Moynihan, Nigel Newton, Hilary Newiss (retired January 2015), Virginia Nicholson, Cate Olson (retired September 2015), Jans Ondaatje Rolls (joined May 2015, retired January 2016), Nash Robbins (retired September 2015), Nancy Roche (joined January 2016), Helen Scott (joined Jan 2015), Claire Singers, Sara Stonor, Thomas Stuart-Smith (joined March 2015), Gillian Wolfe (retired November 2015) House Committee: Anne Olivier Bell, Simon Martin (joined June 2015), Giles Waterfield, Richard Shone (Dormant) Exhibitions Committee: Simon Martin, Anne Olivier Bell, John Gill, Hilary Lane Retail Committee: Hilary Newiss (retired January 2015), Virginia Nicholson, Sarah Sevier Enterprises Committee (Directors of Charleston Enterprises Limited): Dinah Casson, Jonathan Prichard, Virginia Nicholson, Nigel Newton

ADVISORS AUDITORS Knill James One Bell Lane Lewes East Sussex BN7 1JU BANKERS Barclays Bank plc The Old Bank High Street Lewes East Sussex BN7 2JP SOLICITORS Mayer Brown International LLP 201 Bishopsgate London EC2M 3AF

30

TRUSTEES’ REPORT & ACCOUNTS 2015

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

2.2 STRUCTURE, GOVERNANCE AND MANAGEMENT The Charleston Trust was founded in 1981 to save and restore Charleston for the public. The Charleston Trust (Bloomsbury in Sussex) is a charitable company limited by guarantee and governed by its Memorandum and Articles of Association.

The Trust was incorporated on 23 August 2004 and registered as a charity on 17 December 2004.

Operation of the shop and café is carried out through its wholly owned subsidiary, Charleston Enterprises Limited.

GOVERNANCE

The Charity is governed by the Council with members of the Council acting as both its Trustees for the purposes of the Charities Act 2011 and Directors under the Companies Act 2006. The Members of the Charity are the Trustees.

The Council meets at least four times a year and is responsible for establishing and monitoring the policies for the Trust. The Council approves the Trustees’ Report and Accounts, annual budget and forward plan.

Trustees are appointed on the basis that they have a broad and diverse range of expertise in a number of fields relevant to the Trust including fundraising, education, arts and finance.

A thorough induction process is followed for all new Trustees.

They are given an outline of the various areas of activity that the Charity covers, a full set of current policy and procedure documents and an induction session with the Chief Executive.

The current Trustees and those who served during the year are listed on page 30.

Anne Olivier Bell is President of The Charleston Trust.

Charleston Enterprises Limited has a separate board of Directors made up mainly of Trustees.

RISK MANAGEMENT

Each year the Trustees undertake a review of the major risks to which the Charity is exposed, putting in place appropriate systems to mitigate and manage those risks. A detailed risk register has been established and is reviewed quarterly by the Finance Committee. Major risks and action points are reviewed and discussed by the Council. The Charity also has separate risk assessment and emergency plans which cover the House, the collection, the site, festivals and events.

The principal risks and uncertainties affecting the Charity at present are related to funding and costs for the Centenary Project. The risk that major funding is lost is mitigated by regular reports and meetings with the Heritage Lottery Fund and other Trusts and Foundations. The risk that completion costs exceed budgeted estimates is managed by regular cost reviews, close collaboration with the project manager and contractors and review of scope of works. The risk that inflation exceeds the budgeted amount is mitigated by including a reasonable amount in the cost forecasts at all stages and including a general contingency for the project.

REMUNERATION POLICY

The Trust is committed to paying staff a fair salary that is competitive within the charity sector locally, proportionate to the complexity of each role and in line with the charitable objectives.

The Trust meets all national pay standards and provides all staff with at least the National Living Wage, regardless of age but with the exception of apprentices. Apprentices are paid at least the National Minimum Wage for apprentices. The Trustees, with recommendations from the Business and Finance Committee, govern remuneration packages and approve any annual percentage increase.

COMMITTEES

In addition to the Council, the Charity operates through the following committees, each with its own terms of reference: • Business & Finance Committee • Enterprises Committee • Building Committee (Charleston Centenary Project) • Charleston Centenary Project Appeal Committee • House Committee • Exhibitions Committee (Dormant) • Retail Committee The members of each committee are listed on page 30.

Day-to-day management of the operations and activities of the Trust is delegated by Council to the Chief Executive.

TRUSTEES’ REPORT & ACCOUNTS 2015

31

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

2.3 FINANCIAL RESULTS INCOME AND EXPENDITURE

In 2015, the Charity generated net incoming resources of £1,279,126 (2014: £206,023) and, after gains or losses on investment assets, a net movement in funds of £1,279,761 (2014: £205,622). The net movement in unrestricted funds was a surplus of £74,997 (2014: £24,813 deficit). Total incoming resources increased by 86% to £2,617,229 (2014: £1,404,644) due largely to significant donations received for the Charleston Centenary Project, increased visitor numbers, additional shop sales and increased legacy income.

Total resources expended increased by 12% to £1,338,103 (2014: £1,198,621). The most significant areas of increased spend from 2014 were The Charleston Festival, Small Wonder and Public open days & Learning. Support costs, including Governance costs, have been allocated in direct proportion to the direct costs of each line of expenditure in the SOFA. In 2015, Charleston Enterprises Limited donated £83,788 (2014: £60,819) to the Charity, the increase from 2014 was due to an improved performance from both the café and the shop.

RESERVES

As at 31 December 2015, the Trust had total funds of £2,904,621 (2014: £1,624,860), of which £388,401 was general unrestricted funds (2014: £319,404), £6,000 was designated funds (2014: £nil) £194,277 (2014: £193,642) was endowment funds and £2,315,943 (2014: £1,111,814) was restricted funds.

The £388,401 of general unrestricted funds consists of £201,882 (2014: £180,977) tangible fixed assets and £186,519 (2014: £138,427) free reserves.

32

TRUSTEES’ REPORT & ACCOUNTS 2015

The Reserves Policy as agreed by the Trustees is to build up sufficient free reserves to a level equivalent to at least six months’ overhead costs including salaries of permanent staff and those on long term contracts. The £186,519 free reserves is equivalent to three months’ overheads, based on the 2016 annual budget for The Charleston Trust, incorporating Charleston Enterprises Limited. The Trust is working to a surplus budget in order to build up the level of free reserves to the desired level.

DESIGNATED FUNDS

During the year, the Trustees transferred £6,000 to a new designated fund for essential infrastructure improvements to make Charleston more sustainable and prepare for the opening of the new buildings. In 2016, a new telephone system will be purchased from this fund.

RESTRICTED FUNDS

Please see note 16 of the Annual Accounts for information regarding the £2,315,943 (2014: £1,111,814) restricted funds including amounts received and expended during the year.

ENDOWMENT FUNDS

Endowment funds of £194,277 (2014: £193,642) increased slightly during the year as a result of a small net investment gain of £635 (2014: £401 loss).

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

SUMMARY OF INCOME AND EXPENDITURE – UNRESTRICTED AND RESTRICTED FUNDS INCOME

EXPENDITURE

Donations & legacies (8%)

Fundraising (5%)

Public open days & learning (12%)

Friends (3%)

House conservation (2%)

The Charleston Festival (21%)

Small Wonder (4%)

Shop & café (20%)

Charleston Centenary Project (50%)

Other costs of generating funds (<1%)

Friends (2%)

Public open days & learning (17%)

The Charleston Festival (10%)

House conservation (9%)

Shop & café (11%)

Small Wonder (12%)

Other activities for generating funds (1%)

Charleston Centenary Project (13%)

Investment income (<1%)

TRUSTEES’ REPORT & ACCOUNTS 2015

33

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

2.4 STATEMENT OF TRUSTEES’ RESPONSIBILITIES The Trustees (who are also the directors of The Charleston Trust for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and UK Accounting Standards (UK Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and the group, and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period.

In preparing these financial statements, the Trustees are required to • select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities Statement of Recommended Practice (SORP) 2015 (FRSSE) • make judgments and estimates that are reasonable and prudent; state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements • prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the charitable company will continue in business The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and the group, and enable them to ensure that the financial statements comply with the Charities Act 2011 and Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group, and hence for taking reasonable steps for the

34

TRUSTEES’ REPORT & ACCOUNTS 2015

prevention and detection of fraud and other irregularities.

The Trustees are also responsible for the maintenance and integrity of the charitable company and the group, and for financial information included on the charitable company’s website. Legislation in the UK governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

PROVISION OF INFORMATION TO AUDITORS Each of the persons who is a trustee at the date of approval of this report confirms that: So far as the trustee is aware: • there is no relevant audit information of which the charitable group’s auditors are unaware; and • the trustee has taken all steps that he/she ought to have taken as a trustee in order to make himself/herself aware of any relevant audit information and to establish that the charitable group’s auditors are aware of that information.

In preparing this report, the trustees have taken advantage of the small companies exemption provided by section 415A of the Companies Act 2006.

The Trustees’ Report has been approved by the Board of The Charleston Trust (Bloomsbury in Sussex) and is signed on its behalf by

Nigel Newton Chairman 17 June 2016

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

3 ANNUAL ACCOUNTS 2015 INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES We have audited the financial statements of The Charleston Trust (Bloomsbury in Sussex) for the year ended 31 December 2015 which comprise the consolidated statement of financial activities, the consolidated balance sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with regulations made under section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditors’ report and for no other purpose.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND AUDITORS

of any apparent material misstatements or inconsistencies we consider the implications for our report.

OPINION ON FINANCIAL STATEMENTS In our opinion the financial statements:

• give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 December 2015 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice (applicable to smaller entities); and • have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.

OPINION ON OTHER MATTER PRESCRIBED

BY THE COMPANIES ACT 2006

In our opinion the information given in the Trustees’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

As explained more fully in the Statement of Trustees’ Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland).

Those standards require us to comply with the Auditing Practices Board’s Ethical Standards for Auditors.

• the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the group’s and the parent charitable company’s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Trustees’ Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:

• the parent charitable company financial statements are not in agreement with the accounting records and returns; or • certain disclosures of trustees’ remuneration specified by law are not made; or • we have not received all the information and explanations we require for our audit; or • the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the directors report and take advantage of the small companies exemption from the requirement to prepare a strategic report.

Susan Foster FCA (Senior Statutory Auditor) For and on behalf of Knill James, Statutory Auditor, One Bell Lane, Lewes, East Sussex 20 June 2016 Knill James is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 TRUSTEES’ REPORT & ACCOUNTS 2015

35

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (SOFA) FOR THE YEAR ENDED 31 DECEMBER 2015 (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

Notes

Unrestricted Funds

Restricted Funds

Endowment Funds

TOTAL FUNDS

TOTAL FUNDS

2015

2015

2015

2015

2014 (RESTATED)

£

£

£

£

£

175,877

24,469

-

200,346

76,529

290,744

24,188

-

314,932

214,559

279

64,024

-

64,303

30,764

45,129

55,908

-

101,037

55,308

INCOME AND ENDOWMENTS FROM: Donations & legacies

2

Charitable activities Public open days & learning House conservation Small Wonder Charleston Centenary Project

-

1,312,442

-

1,312,442

472,961

336,152

1,456,562

-

1,792,714

773,592

53,170

-

-

53,170

41,711

The Charleston Festival

239,758

13,046

-

252,804

226,087

Shop & café

294,356

-

-

294,356

263,357

16,792

-

-

16,792

16,569

604,076

13,046

-

617,122

547,724

Other trading activities Friends

Other activities for generating funds Investments

4

7,047

-

-

7,047

6,799

1,123,152

1,494,077

-

2,617,229

1,404,644

Fundraising

55,780

6,147

-

61,927

39,003

Friends

44,595

-

-

44,595

34,636

267,445

13,046

-

280,491

228,817

266,556

-

-

266,556

250,501

3,157

-

-

3,157

2,539

637,533

19,193

-

656,726

555,496

222,067

2,482

-

224,549

185,766

88,137

31,681

-

119,818

119,070

103,118

55,908

-

159,026

131,216

-

177,984

-

177,984

207,073

413,322

268,055

-

681,377

643,125

1,050,855

287,248

-

1,338,103

1,198,621

NET INCOME/(EXPENDITURE)

72,297

1,206,829

-

1,279,126

206,023

TRANSFERS BETWEEN FUNDS

2,700

(2,700)

-

-

-

-

635

635

(401)

74,997

1,204,129

635

1,279,761

205,622

TOTAL INCOME AND ENDOWMENTS EXPENDITURE ON: Raising funds

The Charleston Festival Shop & café

12b

Other costs of generating funds Charitable activities Public open days & learning House conservation Small Wonder Charleston Centenary Project

TOTAL EXPENDITURE

Gains/(losses) on investment assets

5

12a

NET MOVEMENT IN FUNDS Total funds brought forward Total funds carried forward

17

319,404

1,111,814

193,642

1,624,860

1,419,238

394,401

2,315,943

194,277

2,904,621

1,624,860

The SOFA includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. The notes on pages 38 to 49 form part of these financial statements.

36

TRUSTEES’ REPORT & ACCOUNTS 2015

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

CONSOLIDATED AND CHARITY BALANCE SHEETS AS AT 31 DECEMBER 2015 COMPANY REGISTRATION NO. 05212725

Notes

Group

Group

Charity

Charity

2015

2014

2015

2014

£

£

£

£

Fixed assets Tangible assets

10

1,767,223

749,395

1,764,737

748,145

Heritage assets

11

5,365

2,665

5,365

2,665

Investments - subsidiary company

12b

Investments - other

-

-

2

2

138,810

138,175

138,810

138,175

1,911,398

890,235

1,908,914

888,917

Current assets Stock

13

40,838

38,303

1,882

411

Debtors

14

208,282

129,285

235,942

188,960

Cash at bank and in hand

818,160

778,796

812,859

740,721

1,067,280

946,384

1,050,683

930,092

(74,057)

(211,759)

(60,929)

(198,937)

993,223

734,625

989,754

731,155

2,904,621

1,624,860

2,898,668

1,620,142

Liabilities Creditors: Amounts falling due within one year

15

Net current assets TOTAL NET ASSETS The funds of the charity: Endowment funds Restricted income funds

194,277

193,642

194,277

193,642

2,315,943

1,111,814

2,315,943

1,111,814

388,401

319,404

382,448

314,686

6,000

-

6,000

-

394,401

319,404

388,448

314,686

2,904,621

1,624,860

2,898,668

1,620,142

Unrestricted funds: General Designated

TOTAL FUNDS

16

The financial statements have been prepared in accordance with the provisions applicable to small companies within part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved and authorised for issue by the Board of The Charleston Trust (Bloomsbury in Sussex) and signed on its behalf by

Nigel Newton Chairman 17 June 2016

TRUSTEES’ REPORT & ACCOUNTS 2015

37

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 The notes on pages 38 to 49 form part of these financial statements.

1. ACCOUNTING POLICIES BASIS OF PREPARATION The charity constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared under the historical cost convention, modified to include the revaluation of investments and certain fixed assets, and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014, the Financial Reporting Standard for Smaller Entities (effective January 2015), the Charities Act 2011 and the Companies Act 2006.

RESTATED COMPARATIVES The 2014 comparatives are shown as restated where applicable following adoption of the new Charities SORP (FRSSE). The restatement is due to the treatment of governance costs which, in accordance with the SORP (FRSSE), are now included within support costs and allocated across categories of expenditure as outlined in the Expenditure policy below.

GOING CONCERN The Trustees are not aware of any material uncertainties related to events or conditions that may cast significant doubt about the ability of the Charity and group to continue as a going concern and have a reasonable expectation that the Charity has adequate resources to continue its activities for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the financial statements.

CONSOLIDATION The financial statements consolidate the results and the assets and liabilities of the Charity and its wholly owned subsidiary, Charleston Enterprises Limited, on a line-by-line basis. A separate Statement of Financial Activities for the Charity alone is not produced as permitted by section 408 of the Companies Act 2006. The results for the activities carried out by Charleston Enterprises Limited are set out in note 11b.

FUND ACCOUNTING Unrestricted general funds are available for the use of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Unrestricted designated funds have been set aside by the trustees for a particular future project or commitment. These funds remain part of the unrestricted funds of the charity as the designation has an administrative purpose only and does not legally restrict the trustees’ discretion in how to apply the funds.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor or by the purpose of an appeal.

38

TRUSTEES’ REPORT & ACCOUNTS 2015

Permanent Endowment funds are held as capital and income is taken to the unrestricted funds. Expendable endowment funds are applied at the discretion of the trustees unless otherwise instructed by the donor.

INCOME All income is included in the SOFA when the Charity obtains the right to consideration and the amount can be quantified with reasonable accuracy. The following policies apply to particular sources of income: i. Donated services and facilities are included at the value to the Charity where this can be quantified. No amounts are included in the financial statements for services donated by volunteers. ii. Gifts in kind are included at current market value where their value is ascertainable and material. The estimated valuation of gifts in kind is based on the value of the contribution to the Charity or the value the Charity would have had to pay to acquire the assets. iii. Income received by way of grants, donations and gifts is included in the SOFA when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the Charity, are recognised when the Charity becomes unconditionally entitled to the grant.

Where grants are related to performance and specific deliverables, these are accounted for as the Charity earns the right to consideration by its performance. iv. Legacy income is recognised at the earlier of the Charity being notified of a distribution and the receipt of the legacy. v. Investment income is included when received. vi. Other income from trading activities is accounted for when earned. vii. Income from annual subscriptions is recognised when received. Life membership subscriptions are not material to the accounts so are also recognised when received.

Income is included in the SOFA under the following categories: i. Donations & legacies: includes unrestricted donations to the Charity including associated Gift Aid and grants received for purposes other than those shown elsewhere on the SOFA and income generated from the Omega patrons group. ii. Friends subscriptions: annual and lifetime subscriptions to the Friends of Charleston scheme including the gift aid received thereof. iii. The Charleston Festival: income generated by the annual Charleston literary festival held in May including ticket income, associated grants and donations and sponsorship income. iv. Shop & café: income generated by the Charity’s trading

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

subsidiary, Charleston Enterprises Limited, through operation of the shop and café. v. Public open days & learning: income from visitors to the House and Garden and income generated through the What’s On programme of events. vi. House conservation: includes restricted grants received for conservation and maintenance of the House and Garden and donations from individuals to the Annual Fund. vii. Small Wonder: income generated by the annual Small Wonder short story festival held in September including ticket income, associated grants and donations and sponsorship income. viii. Charleston Centenary Project: restricted income received for the Charleston Centenary Project which will develop the Charleston Barn and its adjacent spaces.

EXPENDITURE Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure is allocated to categories in accordance with the main activity of the staff concerned or the substance of the costs as set out in note 5. Expenditure includes the costs of generating funds and charitable expenditure including support, management and administration costs.

Support costs are those costs incurred in support of expenditure on the objectives of the Charity and are allocated to the activities set out in note 5 on the basis set out in note 6. Support costs include governance costs which are those expenses incurred in the governance of the Charity’s assets and are primarily associated with constitutional and statutory requirements including audit of the Charity’s accounts and include an appropriate proportion of senior management time.

TANGIBLE FIXED ASSETS All tangible fixed assets are capitalised, subject to a cost threshold of £1,000. Tangible fixed assets are stated at cost including any incidental expenses of acquisition. Depreciation is provided against all tangible fixed assets at rates calculated to write off the cost over their expected useful economic lives as follows: Assets in the course of construction Freehold land and buildings Portable office cabins Fixtures & fittings Audio visual and office equipment

See below See below 25% straight line basis 10% straight line basis 25% straight line basis

Assets in the course of construction are capital costs associated

with the Charleston Centenary Project. No depreciation will be provided until the completion of the project when the assets are put into use.

No depreciation is provided on the freehold land & buildings as the residual value is so high that any depreciation would not be material. Residual values are based on prices prevailing at the date of acquisition or subsequent valuation. Provision is made in the profit and loss account for any permanent diminution in value. The Trustees carry out an impairment review on the freehold land and buildings annually.

HERITAGE ASSETS The house and garden and items in the collection acquired up to 31 December 2013 are heritage assets which are not capitalised under the provisions of paragraph 283 of the SORP. Assets acquired from 1 January 2014 onwards are capitalised where cost and valuation information is available.

Depreciation is not charged on heritage assets as they have an indefinite life span.

Expenditure which is required to preserve or prevent further deterioration of individual collection items is recognised in the SOFA when it is incurred.

FOREIGN CURRENCIES Transactions in foreign currencies are translated into sterling at the date of the transaction. Any exchange differences are recognised through the SOFA. Foreign exchange monetary assets and liabilities are recognised at the rate of exchange ruling at the balance sheet date.

FIXED ASSET INVESTMENTS Investments are stated at market value at the balance sheet date with realised and unrealised gains or losses being taken to the SOFA. STOCK Stock is valued at the lower of cost and net realisable value.

CASH AT BANK AND IN HAND Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

DEBTORS Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

FINANCIAL INSTRUMENTS The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and TRUSTEES’ REPORT & ACCOUNTS 2015

39

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments.

The financing charge to expenditure is at a constant rate calculated using the effective interest method.

PENSIONS The Charity offers a stakeholder pension scheme to eligible employees. Contributions are charged to the SOFA as they fall due.

LEASING COMMITMENTS Rentals payable under operating leases are charged to the SOFA on a straight line basis over the lease term.

2. DONATIONS & LEGACIES

Included in the SOFA under donations & legacies are the following: Unrestricted

Restricted

Total Funds

Total Funds

2015

2015

2015

2014

£

£

£

£

Donations

68,651

-

68,651

67,866

Grants of a general nature

13,476

24,469

37,945

3,663

Legacies

93,750

-

93,750

5,000

175,877

24,469

200,346

76,529

3. GRANTS RECEIVED

During the year the Charity received the following grants: Charleston House Centenary Conservation Project

Small Wonder

The Charleston Festival

Education

Other Restricted

Unrestricted

Total

Total

2015

2015

2015

2015

2015

2015

2015

2015

2014

£

£

£

£

£

£

£

£

£

21,591

-

48,400

-

-

-

-

69,991

25,511

-

-

-

-

-

-

-

-

30,000

The Band Trust

10,000

-

-

-

-

-

-

10,000

10,000

The British Library Trust

60,000

-

-

-

-

-

-

60,000

-

The Foyle Foundation

150,000

-

-

-

-

-

-

150,000

-

Garfield Weston Foundation

117,500

-

-

-

24,000

8,500

-

150,000

-

Heritage Lottery Fund

413,800

-

-

-

-

-

-

413,800

84,852

The Michael Marks Charitable Trust

10,000

-

-

-

-

-

-

10,000

-

The Paul Mellon Centre

10,000

-

-

-

-

-

-

10,000

10,000

The Pilgrim Trust

-

14,700

-

-

-

-

-

14,700

14,700

The Sackler Trust

10,000

-

-

-

-

-

-

10,000

-

-

-

-

3,003

-

9,397

-

12,400

3,000

6,000

11,677

7,508

-

-

6,572

13,476

45,233

20,256

808,891

26,377

55,908

3,003

24,000

24,469

13,476

956,124

198,319

Arts Council England The Ashley Family Foundation

University of Sussex Other grants (under £10,000)

40

TRUSTEES’ REPORT & ACCOUNTS 2015

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

4. INVESTMENT INCOME 2015

2014

£

£

5,905

5,607

UK listed investments: Dividends received Interest receivable

1,142

1,192

7,047

6,799

5. TOTAL EXPENDITURE Direct staff costs*

Direct costs

Support costs*

Total

Total

2015

2015

2015

2015

2014 (restated)

£

£

£

£

£

Fundraising

45,486

4,363

12,078

61,927

39,003

Friends

15,970

19,929

8,696

44,595

34,636

The Charleston Festival

75,230

150,561

54,700

280,491

228,817

Shop & café

78,155

136,415

51,986

266,556

250,501

2,283

258

616

3,157

2,539

121,303

59,454

43,792

224,549

185,766

56,199

40,251

23,368

119,818

119,070

Raising funds

Other costs of generating funds Charitable activities Public open days & learning House conservation Small Wonder

49,067

78,945

31,014

159,026

131,216

Charleston Centenary Project

134,555

43,429

-

177,984

207,073

Total expenditure

578,248

533,605

226,250

1,338,103

1,198,621

* Staff costs of £677,050 are set out at note 8 and comprise direct staff costs of £578,248 and allocated staff costs of £98,802 within ‘Other support costs’ of £226,250.

6. ANALYSIS OF SUPPORT COSTS Staff costs Other costs

2015

2014

£

£

98,802

64,216

127,448

92,092

226,250

156,308

Support costs, included in the expenditure reported in the SOFA, consist of governance costs, information technology, premises, finance, general marketing and human resources. They are allocated in proportion to the direct costs of each line of expenditure in the SOFA. Support costs include £39,559 of governance costs (2014: £25,914).

TRUSTEES’ REPORT & ACCOUNTS 2015

41

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

7. NET INCOME

Net income for the year is stated after charging: 2015

2014

£

£

Audit of the Charity

4,213

3,798

Audit of the Charity’s subsidiary

4,885

4,650

Auditors’ remuneration:

Tax advisory services

240

230

11,488

5,411

4,474

3,299

2015

2014

£

£

Salaries and wages

638,814

526,539

Social security costs

29,530

28,871

Depreciation of fixed assets Operating lease rentals in respect of equipment

8. STAFF COSTS

Pension costs

8,706

7,562

677,050

562,972

The average number of staff employed during the year, including part-time and temporary contracts, was 63 (2014 - 52).

The number of employees whose emoluments amounted to over £60,000 in the year:

£60,001 - £70,000

2015

2014

No.

No.

1

1

1

1

Contributions totalling £3,487 were made to a stakeholder pension for the above employee (2014: £3,100).

9. TRUSTEES

None of the Trustees received any remuneration during the year for their services or were reimbursed any expenses (2014: £Nil).

42

TRUSTEES’ REPORT & ACCOUNTS 2015

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

10. TANGIBLE FIXED ASSETS GROUP: Assets in the course of construction

Freehold land & building

Portable office cabins

Fixtures, fittings & equipment

Total

£

£

£

£

£

515,228

225,000

10,888

27,927

779,043

Additions

1,005,010

-

-

24,306

1,029,316

Disposals

-

-

-

(8,537)

(8,537)

1,520,238

225,000

10,888

43,696

1,799,822

1 January 2015

-

-

8,166

21,482

29,648

Charged in the year

-

-

2,722

8,766

11,488

Cost or valuation 1 January 2015

31 December 2015 Depreciation

Disposals

-

-

-

(8,537)

(8,537)

31 December 2015

-

-

10,888

21,711

32,599

31 December 2015

1,520,238

225,000

-

21,985

1,767,223

31 December 2014

515,228

225,000

2,722

6,445

749,395

Assets in the course of construction

Freehold land & building

Portable office cabins

Fixtures, fittings & equipment

Total

£

£

£

£

£

515,228

225,000

10,888

19,637

770,753

Additions

1,005,010

-

-

21,826

1,026,836

Disposals

-

-

-

(3,966)

(3,966)

1,520,238

225,000

10,888

37,497

1,793,623

1 January 2015

-

-

8,166

14,442

22,608

Charged in the year

-

-

2,722

7,522

10,244

Disposals

-

-

-

(3,966)

(3,966)

31 December 2015

-

-

10,888

17,998

28,886

31 December 2015

1,520,238

225,000

-

19,499

1,764,737

31 December 2014

515,228

225,000

2,722

5,195

748,145

Net book value

CHARITY:

Cost or valuation 1 January 2015

31 December 2015 Depreciation

Net book value

Assets in the course of construction are capital costs that are directly attributable to the acquisition and construction elements of the Charleston Centenary Project and include £209,467 (2014: £195,857) incurred for the long leasehold of land and buildings.

No depreciation is charged on assets in the course of construction.

The value of the freehold building at 31 December 2015 is based on an external valuation carried out in February 2012 by RH & RW Clutton. The Trustees are not aware of any material change in value.

TRUSTEES’ REPORT & ACCOUNTS 2015

43

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

11. HERITAGE ASSETS Group and Charity £ Cost or valuation 1 January 2015

2,665

Additions

2,700

Disposals

-

31 December 2015 5,365

Heritage assets consist of items acquired for the collection from 1 January 2014 onwards. Heritage assets are capitalised at the point of acquisition where cost or valuation information is available. Trustees have considered the cost of capitalising acquisitions where no appropriate valuation exists and have found that the cost outweighs the benefit of doing so. Heritage assets include items donated to and purchased for the collection. Heritage assets are not depreciated or re-valued as a matter of routine.

The House and Garden and items in the collection acquired up to 31 December 2013 are heritage assets which are not capitalised under the provisions of paragraph 283 of the SORP. The insured value of these assets is £5 million (2014: £5 million).

12. FIXED ASSET INVESTMENTS a) Listed investments Group and Charity £ Listed investments at market value 1 January 2015

138,175

Additions at cost

-

Proceeds on disposals

-

Unrealised gains/(losses)

635

31 December 2015

138,810

Historical cost 31 December 2015

114,755

Historical cost 31 December 2014

114,755

b) Subsidiary undertaking

The Charity owns 100% of the issued share capital of £2 of Charleston Enterprises Limited, which is incorporated in the UK. The main activities of the subsidiary are merchandising through the shop and the operation of the café. Taxable net profits are donated to the Charity annually.

44

TRUSTEES’ REPORT & ACCOUNTS 2015

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

Charleston Enterprises Limited’s trading results for the year are summarised below: 2015

2014

£

£

294,356

263,357

Cost of sales

(116,960)

(117,791)

Gross profit

177,396

145,566

Administrative expenses

(92,373)

(85,371)

85,023

60,195

(83,788)

(60,819)

1,235

(624)

Sales

Net profit for the year before donation Gift Aid donation to the Charity Profit on ordinary activities before and after taxation

At 31 December 2015 the aggregate amount of Charleston Enterprises Limited’s assets, liabilities and share capital and reserves was:

Tangible fixed assets Current assets Creditors: amounts falling due within one year Total assets less current liabilities

2015

2014

£

£

2,486

1,250

44,518

76,734

(41,049)

(73,264)

5,955

4,720

5,955

4,720

Represented by: Share capital and reserves

13. STOCK

Goods for resale

Group 2015

Group 2014

Charity 2015

Charity 2014

£

£

£

£

40,838

38,303

1,882

411

40,838

38,303

1,882

411

Group 2015

Group 2014

Charity 2015

Charity 2014

14. DEBTORS

Trade debtors Amounts due from subsidiary companies Other debtors Taxation & social security Prepayments & accrued income

£

£

£

£

7,940

7,509

7,940

7,092

-

-

27,921

60,442

32,879

50,778

32,618

50,428

138,429

40,493

138,429

40,493

29,034

30,505

29,034

30,505

208,282

129,285

235,942

188,960

TRUSTEES’ REPORT & ACCOUNTS 2015

45

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors Taxation & social security Other creditors Accruals & deferred income

Group 2015

Group 2014

Charity 2015

Charity 2014

£

£

£

£

47,577

124,651

43,488

122,634

4,316

19,110

-

13,440

2,917

2,200

2,376

1,849

19,247

65,798

15,065

61,014

74,057

211,759

60,929

198,937

The movement in deferred income included within creditors amounts falling due within one year is analysed below:

Deferred income: Balance at 1 January 2015 Amounts released from previous years

Group and Charity

Group and Charity

2015

2014

£

£

36,090

997

(36,090)

(997)

Incoming resources deferred

2,641

36,090

Balance at 31 December 2015

2,641

36,090

Deferred income consists mainly of ticket income received in 2015 for events to be held in 2016.

16. FUNDS 1 January 2015

Income

Expenditure

Transfers

Gains/ (losses)

31 December 2015

£

£

£

£

£

1,123,152

(1,050,855)

(3,300)

-

388,401

Unrestricted funds General

319,404

Designated: Infrastructure

i

-

-

-

6,000

-

6,000

319,404

1,123,152

(1,050,855)

2,700

-

394,401

1,048,101

1,312,442

(177,984)

-

-

2,182,559

Restricted funds Charleston Centenary Project

ii

The Charleston Festival

iii

-

13,046

(13,046)

-

-

-

House Conservation

iv

5,000

64,024

(31,552)

-

-

37,472

Small Wonder

v

-

55,908

(55,908)

-

-

-

The Quentin Bell Memorial Fund

vi

58,585

-

(129)

(2,700)

-

55,756

Education

vii

-

24,188

-

-

-

24,188

Other restricted funds

viii

128

24,469

(8,629)

-

-

15,968

1,111,814

1,494,077

(287,248)

(2,700)

-

2,315,943

123,713

-

-

-

406

124,119

Endowment funds Permanent

ix

Expendable

x

TOTAL FUNDS 46

TRUSTEES’ REPORT & ACCOUNTS 2015

69,929

-

-

-

229

70,158

193,642

-

-

-

635

194,277

1,624,860

2,617,229

(1,338,103)

-

635

2,904,621

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

DESIGNATED FUNDS i. Infrastructure: a fund set up in 2015 to use for future essential infrastructure development; initially for the purchase of a new telephone system.

RESTRICTED FUNDS ii. Charleston Centenary Project: a fund set up to develop the Charleston Barn and its adjacent spaces. Outgoing resources shown above mainly consists of activity plan expenditure and associated staff costs. Capital expenditure on the Centenary Project is kept in this fund and shown in the balance sheet as an asset in the course of construction. On completion of the building works, the net book value of the fixed assets will be transferred to general unrestricted funds. iii. The Charleston Festival: represents grants and donations received to support the May literary festival and related expenditure.

All restricted income received in 2015 was spent on the 2015 festival. iv. House Conservation: represents grants and donations received to maintain and conserve the House, Garden and collection and related expenditure. The fund includes donations from individuals to the Annual Fund. v. Small Wonder: represents monies received from Arts Council England and other grants and donations received to support the Small Wonder short story festival and related expenditure. Funding provided for the 2015 Small Wonder was spent in 2015. vi. Quentin Bell Commemoration Fund: a fund established in Quentin Bell’s memory to be used for acquisitions for the Charleston collection. Transfers and expenditure in 2015 consist of the purchase of a printed lithograph poster designed by Duncan Grant and related expenditure. The heritage asset was transferred on purchase to the general unrestricted fund. vii. Education: represents grants and donations received to further the Trust’s educational objectives including development of the schools programme and related expenditure. viii. Other restricted funds: represents grants and donations received for other purposes such as supporting internships and environmental initiatives and related expenditure. ix. Permanent: arising from endowment gifts where the trustees do not have the power to convert the capital into income. x. Expendable: arising from endowment gifts where the trustees do have the power to convert all or part of the capital into income.

TRUSTEES’ REPORT & ACCOUNTS 2015

47

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible fixed assets

Investments

Net current assets

Total

Total

2015

2015

2015

2015

2014

£

£

£

£

£

201,882

-

186,519

388,401

319,404

-

-

6,000

6,000

-

201,882

-

192,519

394,401

319,404

1,520,239

-

795,704

2,315,943

1,111,814

50,467

138,810

5,000

194,277

193,642

1,772,588

138,810

993,223

2,904,621

1,624,860

2015

2014

£

£

-

1,143

3,583

-

Unrestricted funds: General Designated

Restricted funds Endowment funds TOTAL FUNDS

18. LEASE COMMITMENTS Non-cancellable operating leases in respect of equipment: Expiring within one year Expiring in the second to fifth year Rent payable under long lease of land and buildings: Expiring after five years The above amounts include an estimate for irrecoverable VAT where applicable.

48

TRUSTEES’ REPORT & ACCOUNTS 2015

328

250

3,911

1,393

THE CHARLESTON TRUST (BLOOMSBURY IN SUSSEX)

19. PENSION COMMITMENTS

The Charity operates a stakeholder pension scheme for eligible employees. The assets of the scheme are held separately from those of the Charity in independently administered funds. The pension cost charge represents contributions payable by the Charity to the funds and amounts to £8,706 (2014: £7,562). At 31 December 2015, contributions of £953 (2014: £723) were outstanding.

20. CAPITAL COMMITMENTS

As at 31 December 2015 the Charity had committed to professional fees of £143,705 (including irrecoverable VAT) payable for Project Management services which will be capitalised as part of the Charleston Centenary Project.

21. POST BALANCE SHEET EVENTS

On 22 March 2016 a letter of intent for building contractor services was accepted by R Durtnell & Sons Limited. The maximum contract sum outlined in the letter is £1,927,854 (excluding VAT).

22. RELATED PARTIES

During the year, the Charleston Trust group purchased goods and services totalling £13,724 (including irrecoverable VAT) (2014: £9,089) from Cressida Bell Limited. Cressida Bell, a director and controlling shareholder of Cressida Bell Limited, is the sister of Trustee Virginia Nicholson. All transactions were on normal trading terms. At the balance sheet date there were no amounts outstanding (2014: £Nil).

During the year, speaker fees of £100 were paid to Virginia Nicholson (2014: £100), Charles Saumarez Smith (2014: £100) and Michael Farthing (2014: £Nil) all of whom were Trustees during the year. £100 was paid in speaker to William Nicholson (2014: £Nil) who is the husband of Virginia Nicholson. There were no balances outstanding at the balance sheet date (2014: £Nil).

During the year, grants of £21,591 (2014: £21,591) for the Charleston Centenary Project and £Nil (2014: £39,240) for Small Wonder were received from Arts Council England. During the year, £35,320 of the grant for Small Wonder was released from deferred income and at the year end £13,080 income was accrued (2014: £35,320 deferred). Sir Peter Bazalgette, Chair of Arts Council England, is the husband of Hilary Newiss who was a Trustee during the year.

During the year, £400 (2014: £Nil) was paid to Adrienne Chinn for professional services. Adrienne Chinn is the sister of Carolyn Chinn, Head of Public Programmes and Learning for the Charity. The transaction was commensurate with the standard payment rate of the Charity for similar services and there was no outstanding balance at the balance sheet date (2014: £Nil).

During the year, payment for services and recharge of costs for a total of £3,919 (2014: £Nil) was received from Bloomsbury Publishing Plc. Nigel Newton, Chief Executive of the Charity is Chief Executive of Bloomsbury Publishing Plc. The transactions were enacted under standard trading terms for both organisations. There was no outstanding balance at the balance sheet date (2014: £Nil).

During the year, a grant of £2,730 (2014: £Nil) was received from Royal Pavilions & Museums (SEWS Museum Development Programme) for IT consultancy. Gillian Wolfe, a Trustee of Royal Pavilions & Museums was a Trustee of the Charity during the year.

At the balance sheet date there was a restricted fund balance of £2,248 (2014: £Nil) in respect of this grant.

During the year, the Charity recharged expenses of £165,895 (2014: £155,552) to its wholly owned subsidiary, Charleston Enterprises Limited. Charleston Enterprises Limited recharged expenses of £282,204 (2014: £186,863) to the Charity. During the year, Charleston Enterprises Limited donated its taxable net profits of £83,788 (2014: 60,819) to the Charity. At the year end, £27,921 was due from Charleston Enterprises Limited to the Charity (2014: £60,442).

TRUSTEES’ REPORT & ACCOUNTS 2015

49

The Charleston Trust (Bloomsbury in Sussex) is a non-profit making company limited by guarantee. Registered charity number 1107313, Registered in England & Wales company number 5212725. Registered office: Charleston, Firle, Lewes, East Sussex, BN8 6LL Charleston, Firle, near Lewes, East Sussex, BN8 6LL

Tel: +44 (0)1323 811 626

www.charleston.org.uk